Schiff on CNBC: The Fiscal Cliff and Price of Gold (Video)

Peter Schiff appeared today on CNBC’s Futures Now and spoke about how a deal to avoid the fiscal cliff will affect the gold price. He also discusses how since there is no limit to how low the value of fiat currencies can go, there is no predictable ceiling on the value of gold :

“…if we avoid the cliff, that is very bullish for the gold market, because it means that trillion dollar plus deficits will perpetuate. And these big deficits are what are undermining the dollar, because the Fed has to print money to finance them, and the more money they create…the higher the price of gold is going to go up.”